Sunday, June 24, 2012

Corporate Greed

Ref:Newspaper article 3/01/12(Pioneer Press)
Is greed rampant in corporations?Wall Street figures are revelatory.Total corporate profits in 2010 were 27.6 billion;bonuses were22.9 billion(80%).In 2011 profits were 13.5 billion;bonuses-19.7 billion(146%).I other words,all of corporate profits go to upper employee bonuses.Does that indicate greed?And some want to let that same sector take care of social needs.In the "olden" days,part of company profits went to employees for heathcare and pensions.Today they charge employees for healthcare and provide 401K's in place of pensions and invest in areas that they can milk for profit until it suddenly becomes worthless(derivatives) and the employees are left with no pensions.In the end the corporations have much more profit for bonuses and the employees?Well,the private sector will keep caring for them as they have since greed began to dominate.

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